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Fleming stock, debt offering

Executive Summary

Texas-based consumer product distributor announces offering of 8 mil. shares of common stock and $200 mil. in senior notes, with estimated net proceeds of $385 mil. Proceeds will be used to fund the firm's $390 mil. purchase of Core-Mark International, a "piece-pick" distributor to convenience stores operating primarily in western North America. With the acquisition, Fleming's total annualized sales will top $19 mil. Fleming recently announced a nearly $20 mil. fourth quarter charge related to the Kmart bankruptcy (1"The Rose Sheet" Feb. 18, 2002, In Brief)...
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